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TECHS: Focusing On The Bullish........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Focusing On The Bullish Engulfing Candle
*RES 4: 1.4349 High Mar 31 and the key bull trigger
*RES 3: 1.4299 High Apr 2
*RES 2: 1.4262 High Apr 6
*RES 1: 1.4183 High Apr 16
*PRICE: 1.4035 @ 16:10 BST Apr 17
*SUP 1: 1.4000 round number support
*SUP 2: 1.3856 Low Apr 13
*SUP 3: 1.3812/21 50.0% retracement of the Jan 20 - Mar 19 rally / 50-day EMA
*SUP 4: 1.3734 Low Mar 16
Wednesday's USDCAD rally potentially brings to an end the recent Mar 19 - Apr 13
bearish cycle. The strong close Wednesday confirms a bullish engulfing candle
formation and highlights a reversal. Furthermore, support at 1.3812, 50% of the
Jan 7 - Mar 19 rally has remained intact as has the 50-day EMA at 1.3821. Unless
USDCAD can break below Monday's low of 1.3856, the risk has increased that
prices will travel north near-term towards 1.4262 and 1.4349.

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